Products of Change

Betting on Better Business

With new research suggesting that sustainability measures are now driving 20 per cent of business’ financials, while 87 per cent of consumers now seek out sustainable brands over those without purpose, there’s no better time to bet on doing business better. Products of Change explores...

Businesses like yours are stepping up. They are shouldering the responsibility, going the lengths needed to place better sustainable practices and products in the hands of the consumer, and they are getting the recognition they deserve. When we look at the licensing industry today, we’re a far cry now in 2022 from the shape it took in any given year of the decade prior. Today, businesses like yours are the ones answering the call to do better by our planet, and they are winning the spotlight. Don’t believe us? Let’s look at the industry’s latest celebration: The Brand and Lifestyle Licensing Awards (or The B&LLAs, for those in favour of an acronym). This year, the awards welcomed its first ever Best Sustainability BrandLicensed Product or Range category to proceedings, a title that was – on the day – secured by the Eden Project and its partnership with Fresh Coffee Shop for a range of Compostable Coffee Pods. Now Eden Project, we know, has worked tirelessly over the last ten years to develop a licensing programme with sustainability at its very core and given the work the team puts into extending the message and education of conservation across the globe, is altogether a more-thanworthy winner of this accolade. But the truth is, so were all the category’s finalists. Because each and every effort made towards doing things better and pushing businesses to act differently is an occasion to celebrate. Reducing plastic packaging, finding more sustainable solutions, eradicating waste, manufacturing and sourcing responsibly – this has now all become top line stuff. Sustainable brands are already outpacing those that don’t demonstrate a positive approach to environmental sustainability. If you’re in need of proof, simply pick a survey… the consumer industries are (somewhat ironically) now littered with them. One of the latest from SmartestEnergy reveals that as much as 81 per cent of consumers now prefer ‘sustainable brands’ to non-sustainable ones. In other words, that’s four out of five customers who now describe themselves as ‘likely to choose a brand with a positive approach to environmental sustainability.’ That, it could be argued, is somewhat of a ‘seismic shift’ in sensibilities. Meanwhile, an even more recent whitepaper from the supplier collaboration expert, Supply Pilot, describes the reality that today, the adoption of sustainable practices is now driving around 20 per cent of business for

both brands and retailers. Within the data captured, supplier collaboration has been earmarked as the most effective sustainable practice that businesses can undertake – a practice that emphasises the need for brands and retailers to engage with their suppliers, share data, and crucially, establish mutual understandings of responsibility around sustainability. This is the very same drum that Products of Change has been beating since its formation in 2019. Today an educational platform, media hub, and resource bank for the consumer products industries, Products of Change is an organisation built on the foundations of uniting experts, teams, and individuals across our own supply chains to drive positive and sustainable change. Our mission? To help the licensing industry transition to a sustainable – or even regenerative – future of business in which both people and the planet prosper. And we’ve got to say; the response from the global licensing industry to the call for better sustainability has been wonderful to witness. Products of Change’s Sustainability 101 sessions, part of the Licensing University’s series of discussions taking place at Licensing Expo in Las Vegas this month, will highlight exactly that. It’s here that attendees will witness brands including The LEGO Group, Natural History Museum, and Formula E talk about the integral role that sustainability now plays within their business success, while the likes of the purpose-driven fashion brand Piping Hot and the sustainable stationery specialist, Greenre offer an international flavour on where their respective journeys have taken them so far. Smiley, Beanstalk, and The Smurfs will also be on the roster, all of them united by their common enemy in climate change, and their common desired goal: to do business better and play their part in mitigating the effects of it. If you’re in Vegas for Licensing Expo and looking for a bigger fix of sustainability chatter, however, Products of Change will also be playing host to its own Sustainability Business Lounge – in partnership with the show’s organisers, Informa - where the team and its North Amercian ambassadors and Advisors, Andrea Green and Brenda Seto will be on hand to offer free counsel to anyone looking to take their next – or even their first – steps on their journey with sustainability. Let us together continue to celebrate the positive changes beginning to be implemented across this innovative industry. When facing a challenge as large as the one before us, it’s important we celebrate those wins, because every victory is a step towards a far healthier planet and a far more prosperous future for everyone upon it. https://www.productsofchange.com/

Four out of five customers now describe themselves as ‘likely to choose a brand with a positive approach to environmental sustainability.’